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Elon Musk's $2 trillion SpaceX ($SPAC) will be added to the Nasdaq 100 index on July 7.
After being included in the index, it is expected to bring in $4.3 to $5 billion in passive buying.
In other words, if you hold the Nasdaq 100 index, you indirectly hold SpaceX as well.
However, SpaceX's weight in the index is less than 1%.
The reason is that its free-float market cap is only about $100 billion.
But the true significance of this event is not just the capital inflow, but the transformation of the Nasdaq 100 index.
This also paves the way for giant companies like OpenAI to be included in the index more quickly after their listings in the future.